A New Zealand startup has announced a pilot with Chemist Warehouse aimed at helping the discount giant with its merchandising, buying and selling
IT media outlets Which-50 and ItBrief are reporting that Insite AI, a Kiwi startup which has raised $1.8 million in pre-seeding led by venture capitalist organisation Goat Ventures, is partnering with the Chemist Warehouse Group.
Insite AI reportedly offers a machine learning solution aimed at automating supply chain decisions, making it easier for retailers to plan their activities.
“By primarily harnessing retailers’ data, in addition to external data (i.e. weather, demographics, competitors) and text and imagery pulled from social media, product reviews, videos and more, Insite can provide retailers with value-driven insight,” says Insite AI.
Damien Gance, Chemist Warehouse Group co-founder and director, said that since the Chemist Warehouse chain’s beginnings, it has had a focus on innovation.
“Artificial intelligence is one such innovation that is quickly becoming a crucial ingredient in anticipating customer needs,” he said.
“We’re excited to embed Insite AI’s solution within our business to support our buying and planning activities.
“Embracing new ideas and innovation acts to further distinguish us from competitors and helps us to ensure we always have the best products at the best price.
“We are always looking to do all that we can to meet all our customers’ needs.”
The trial run of the platform will focus on purchasing, selling and planning in the vitamins and OTC medicines sections.
The startup’s platform in Australia is being distributed and sold only through PwC.
Chemist Warehouse has for some time been investigating innovative retailing solutions, such as its focus on the “Internet of Things” announced last month by its AMS solutions architect Antoine Sammut.
Mr Sammut told a Sydney digital enterprise conference that the group was considering using a grid of sensors in store to track and analyse customer foot traffic and thus learn which areas most interest their customers.